Meeder Advisory Services Inc. Has $691,000 Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Meeder Advisory Services Inc. raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 440 shares of the company’s stock after buying an additional 37 shares during the period. Meeder Advisory Services Inc.’s holdings in MercadoLibre were worth $691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MELI. Salem Investment Counselors Inc. increased its holdings in shares of MercadoLibre by 500.0% during the third quarter. Salem Investment Counselors Inc. now owns 24 shares of the company’s stock worth $30,000 after buying an additional 20 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in shares of MercadoLibre in the third quarter valued at approximately $32,000. Castleview Partners LLC increased its holdings in shares of MercadoLibre by 58.8% in the second quarter. Castleview Partners LLC now owns 27 shares of the company’s stock valued at $32,000 after purchasing an additional 10 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of MercadoLibre in the third quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of MercadoLibre in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,488.58 on Tuesday. The firm has a market cap of $75.47 billion, a PE ratio of 76.18, a PEG ratio of 0.96 and a beta of 1.44. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The company has a fifty day moving average price of $1,615.42 and a 200 day moving average price of $1,516.96.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. MercadoLibre’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.25 earnings per share. Research analysts predict that MercadoLibre, Inc. will post 35.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 price objective on shares of MercadoLibre in a research note on Tuesday, March 5th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Citigroup reduced their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Barclays reduced their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, Susquehanna raised their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,806.15.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.